Nassau – Veteran resort developer Sol Kerzner announced on Sunday that he has stepped down as CEO of Kerzner International, though he will remain chairman of the board, while longtime Kerzner executive Alan Leibman takes his place as CEO.
Kerzner and Leibman will work closely on the overall corporate strategy and the growth of both its Atlantis and One&Only brands.
Liebman, who joined Atlantis in 1994 has held many positions with the company, most recently being the regional president of Europe, Africa and the Middle East.
The changing of the CEO comes along with another major change at Kerzner International – It will run its resorts and hotels, but no longer own them.
As Reuters reported in November, Kerzner International – in a debt-for-equity deal – is transferring ownership of its Atlantis Paradise Island resort, its One&Only Ocean Club next door and its One&Only Palmilla in Mexico to a Toronto real estate and asset management company called Brookfield Asset Management. The move came after Kerzner International failed to renegotiate $2.6 billion in debt.
“Alan has a great deal of passion and commitment to both our employees and our guests. As chief executive, Alan will lead the executive management team and will be actively engaged in all aspects of the business. I firmly believe this new organisational structure and focus will best ensure the future success and growth of Kerzner International,” Kerzner said.
